{"product_id":"the-accrual-anomaly-von-paul-hoefsloot","title":"The Accrual anomaly","description":"\u003cp\u003eThis paper investigates the existence of the accrual anomaly on the Dutch stock  market. It documents that there is statistical evidence to accept that the cash flow  component of current earnings is significantly more persistent than the accrual  component of current earnings with respect to future earnings. Applying a trading  strategy this paper shows that a significant abnormal return can de made by constructing  a portfolio consisting of firms with relatively low accruals. However, contrary to U.S.  findings, a hedge return consisting of a long position in low accruals firms and a short  position in high accruals firms (hedge portfolio) generates neither substantial nor  statistically significant returns.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783848440184\"\u003e\u003ch3\u003eAn investigation on the Dutch stock market\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783848440184","offer_id":39491270967389,"sku":"9783848440184","price":49.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/40ba7880-9a55-465f-9aa6-57c50fb46416.jpg?v=1775194154","url":"https:\/\/shop.autorenwelt.de\/products\/the-accrual-anomaly-von-paul-hoefsloot","provider":"Autorenwelt Shop","version":"1.0","type":"link"}